Pumpkin Cookies restore the same amount of Sanity as Taffy, but do not decrease any Health. This makes Pumpkin Cookies better to eat on their own, while Taffy is slightly cheaper to make. Pumpkin Cookies also spoil faster and restore more Hunger than Taffy.
Practically, eating a Cooked Pumpkin alongside Taffy is more beneficial than eating Pumpkin Cookies. Since a Cooked Pumpkin restores 8 , it effectively cancels Taffy's Health penalty as well as restoring some Health back, while restoring the same Hunger as Pumpkin Cookie.
With 1 Pumpkin, 3 Honey, and 1 Twig, the Player can restore a total of 5 , 62.5 , and 15 from 1 Taffy and 1 Cooked Pumpkin, compared to 3 , 47, and 15 from 1 Pumpkin Cookie and 1 Honey.
However, if your honey reserves are running very low, then Pumpkin Cookies do provide more sanity per unit of honey, 15 per two honey vs Taffy's 15 per three honey.
Pumpkin Cookies were added in the Insanity! update.
During the Pig Fiesta event in the Hamlet DLC, Pumpkin Cookies take on a more festive appearance.
Pumpkin Cookies as seen in the poster for the Insanity! update.